quotes tagged with 'dollar'

Second Great Rebellion or Chicago Quote - A. Milton Musser papers, LDS Church Archives.This was a letter from Nephi Packard to A. Milton Musser on July 24, 1896:

"... My brother, Noah Packard, says that he heard the Prophet Joseph say that the next great (U.S. civil) war after the war of the rebellion (the Civil War of the 1860's between the North and the South) would commence in a little town now called Chicago but at that time it would have grown to be a very large city. And another brother told me that the Prophet said that the cause of the next great trouble of the United States would be the depreciation of the currency of the United States. I believe I have given you all the facts in as short and concise manner as possible."

Another quote regarding the Civil War itself comes from an interview by Dr. Poulson with David Whitmer, printed in the Deseret News on Friday, August 16, 1878:

Question: When will the temple be built in Independence?

Answer: Right after the great tribulation is over

Question: What do you mean by that?

Answer: A civil war more bloody and cruel than the rebellion. It will be the smashing up of this nation, about which time the second great work has to be done, a work like Joseph did, and the translation of the sealed plates and peace all over.

Monetary chaos was followed in Germany by a Hitler; in Russia by all-out Bolshevism; and in other nations by more or less tyranny. It can take a nation to communism without external influences. Suppose the frugal savings of the humble people of America continue to deteriorate in the next 10 years as they have in the past 10 years? Some day the people will almost certainly flock to "a man on horseback" who says he will stop inflation by price-fixing, wage-fixing, and rationing. When currency loses its exchange value the processes of production and distribution are demoralized.

It is apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish a currency consisting of the precious metals. These, from their peculiar properties which rendered them the standard of value in all other countries, were adopted in this as well to establish its commercial standard in reference to foreign countries by a permanent rule as to exclude the use of a mutable medium of exchange, such as of certain agricultural commodities recognized by the statutes of some states as tender for debts, or the still more pernicious expedient of a paper currency. The last, from the experience of the evils of the issues of paper during the Revolution, had become so justly obnoxious as not only to suggest the clause in the Constitution forbidding the emission of bills of credit by the States, but also to produce that vote in the Convention which negatived the proposition to grant power to Congress to charter corporations.

Most unquestionably there is no legal tender, and there can be no legal tender in this country, under the authority of this government or any other, but gold and silver, either the coinage of our own mints, or foreign coins, at rates regulated by Congress. This is a constitutional principle, perfectly plain, and of the very highest importance. The States are expressly prohibited from making anything but gold and silver a tender in payment of debts; and, although no such express prohibition is applied to Congress, yet, as Congress has no power granted to it, in this respect, but to coin money, and to regulate the value of foreign coins, it clearly has no power to substitute paper, or anything else, for coin, as a tender in payment of debts and in discharge of contracts.